Author: Obike Favour

The current crypto rally has garnered so much momentum that it can no longer be stopped as it continues to attract the attention of many investors, including those in the popular Reddit community, WallStreetBets. According to a recent post on the subreddit, the forum will now start allowing discussions about the two top cryptocurrencies, Bitcoin and Ethereum, and the meme-inspired coin, Dogecoin, in a daily crypto discussion thread in the community. WallStreetBets had stayed away from participating in discussions or approving posts related to cryptocurrencies and their underlying technologies in an attempt to stay true to their core value —

Scammers on the dark web have taken advantage of the ongoing pandemic to defraud victims, claiming to sell unspecified doses of the COVID-19 vaccines for sums as high as $1000 worth of bitcoin. According to a Wednesday report, researchers from the cybersecurity firm, Check Point, discovered that these scammers have been putting out ads for the vaccines and asking for payments in bitcoin. As per the report, the Check Point researchers had reached out to a vendor via the encrypted messaging app, Telegram, and were offered an unspecified dose of vaccine for $750 worth of bitcoin. However, once the bitcoin

Nexon, the leading South Korean online game developer, is currently planning to acquire the number one cryptocurrency exchange in Korea, Bithumb, for the sum of $594 million. According to a Thursday report by a local media outlet, Nexon had signed a Memorandum of Understanding (MOU) with Bithumb earlier this month to take over its shares in the exchange, which is about 65% of Bithumb’s total stake. The acquisition of Bithumb is said to have been directly led by Nexon’s CEO, Kim Jeong-joo. While processing the transaction, the 65% stake that Nexon has in Bithumb was calculated to be worth around

The recent SEC lawsuit against Ripple has adversely affected the performance of XRP in so many ways. Several top exchanges delisted the coin, and the price has plummeted by more than 70% since then. On Tuesday, the leading digital assets management firm, Grayscale Investments, is the latest institutional investor to wash its hands off XRP. According to a recent update, the company has delisted and subsequently sold all XRP assets in its Grayscale Digital Large Cap Fund, using the proceeds from the sale to purchase other digital assets contained in the Fund. The Grayscale Digital Large Cap Fund was created

The United States Securities and Exchange Commission (SEC) has recently said that has filed an emergency action and also obtained an order which imposes freezing the assets of Virgil Capital LLC and other companies associated with it. According to an official announcement by the financial regulator on Monday, the filing alleges that Virgil Capital, led by its 23-year-old founder, Stefan Qin, had committed securities fraud regarding its flagship crypto trading fund, Virgil Sigma Fund LP. The SEC alleged that Qin had been defrauding investors in the Virgil Sigma Fund by deceiving them into believing that their funds are being used

San Francisco-based cryptocurrency fund manager, Bitwise Assets Management, has recently removed XRP from its Bitwise 10 Crypto Index Fund and has sold every XRP asset held in the Fund. According to a Wednesday release, the company liquidated its position in XRP following the lawsuit filed against Ripple by the United States Securities and Exchange Commission (SEC). The lawsuit had alleged that Ripple has been conducting unregistered securities sales, suggesting that XRP is security with respect to the registration requirements of the federal securities laws. Bitwise decided to sell all of its XRP assets in the Bitwise 10 Crypto Index Fund

As Bitcoin adoption enters a mainstream phase, more people, including public figures and top multinational companies, are seeing its significance as a good store of value and hedge against inflation and other market crisis. The crypto industry recently welcomed retired American rapper, songwriter, and streamer Sir Robert Bryson Hall II, popularly known as Logic. According to a recent report, Logic revealed that he bought bitcoins worth a total of $6 million last month. He made this big reveal via his Instagram Story. The retired rapper also combined his new venture into crypto with his handle Bobby Tarantino to change his

Fireblocks, a cybersecurity startup that helps financial institutions to protect their cryptocurrencies both those in storage and in transit from hackers, recently announced that it has raised a total of $30 million in a Series B round of funding. According to a press release shared with Coinfomania, the funding which was led by blockchain-focused venture capital Paradigm brings the security company’s cumulative fundraising to $46 million. Other investors who participated in the round are were Fireblocks’ existing investors including Cyberstarts, Tenaya Capital, Swisscom, Galaxy Digital, Digital Currency Group (DCG), and Cedar Hill Capital.  The company also added Fred Ehrsam, co-founder of

Crypto proponent, Max Keiser, has recently stated that bitcoin’s price is set to surpass its 2017 all-time high of $20,000. According to a Wednesday report, Keiser is very convinced that Bitcoin will continue in its current bull-run to the point of surpassing the $20,000 level since it is now backed by several top financial institutions, hedge fund managers, and “real” volumes. “Most of the volume in 2017 was the fake volume of wash-trading. The bitcoin price was manipulated. In 2020, since the dodgy exchanges have been cleaned up or shut down, the volume is real,” he said. He believes that